Mark Zuckerberg Made a Fortune as Shares Rose
Facebook released its fourth-quarter revenue data yesterday and sales surged well beyond forecasts. The main reason is mobile advertising, which was responsible for around 84% of total ad revenue. This also means Facebook now holds the second place in mobile advertising, right after Google.
The social giant’s sales skyrocketed 51% and monthly active users rose by 17% from the year before.
The company’s shares are already doing very well this year – rising about 15% since the beginning of 2017. According to Bloomberg, Facebook shares rose by around 3.6% in extended trading after the report was released.
Some people expected that Facebook’s revenue gains will become sluggish this year, since the company promised to stop increasing the number of ads seen by users. However, Facebook still has areas for growth including live video ads and Instagram.
According to Bloomberg, the share increased resulted in nearly $3 billion addition to net worth for Mark Zuckerberg, in after hour trading. If Thursday won’t show a change in trend, he’ll be holding the fifth-richest individual on the Bloomberg Billionaires Index.
Found this article interesting?
Join iFOREX to learn more about online trading and market opportunities.